It’s reported that NLMK, a mining and steelmaking group in Russia announced that its net profits totaled US$38 million in the first quarter of this year, slumping by 78% year on year, affected by foreign exchange rate loss of US$27 million.
In the first quarter of this year, NLMK realized sales revenues of US$2.85 billion, down by 3% year on year, caused by lower selling prices.
Meanwhile, NLMK’s sales volumes of steel products totaled 2.96 million tons in the first quarter of this year, down by 4% year on year.
Besides, the company’s EBITDA dropped by 26% year on year to US$318 million in the first quarter of this year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64515&division=A6
